Michael Douglas Is ‘Living Like A King’ on His $350 Million Fortune After Retiring From Acting

Michael Douglas is embracing his golden years, now that he’s made it clear he has no intention of returning to acting.

“I had been working pretty hard for almost 60 years, and I did not want to be one of those people who dropped dead on the set,” the Hollywood legend told reporters at the Karlovy Vary International Film Festival in the Czech Republic in July. “I realized I had to stop.”

And with a $350 million retirement account, the 80-year-old Oscar winner never has to work again! “This is how you retire in style,” an insider tells the Examiner. “He is living like a king and spending a big chunk of his fortune in the process.”

Douglas and his wife, Catherine Zeta-Jones, are enjoying “the finer things in life,” says the insider. “They are both addicted to playing golf around the world, and they love their luxury travel adventures.”

But the parents to Dylan, 25, and Carys, 22, are not typical empty nesters.

Zeta-Jones, 55, recently revealed that they own two homes in New York, one in Canada and one in Spain. “I know it sounds very jet set, and I love to surround myself with beauty, but it’s not excessive, it’s very comfortable,” Zeta-Jones recently insisted to the Sunday Times, during which she also revealed her obsession with vintage shopping in Paris.

“I buy things that you are probably never going to wear, like a gorgeous cape, just great pieces,” the Wednesday star added. “I love the theatre of fashion.”

One of their biggest splurges is yet to come: In July, Zeta-Jones told Entertainment Tonight that she’s planning a huge bash over the holidays to celebrate their 25th anniversary.

“They have an incredibly supportive and happy marriage that has stood the test of time,” adds the insider. “They’re treating themselves to the best of everything.”